How do lease transfers work?
Transferring a lease is pretty simple. The first step is finding a buyer, which is where the site we mentioned earlier, Swapalease.com, comes in. They are a large marketplace specifically designed to match buyers and sellers of automotive leases. Once you have found the right buyer, they must apply for credit with your bank specifically. This is no different than the process you went through when writing your lease the first time. A qualified buyer will be in great shape to assume your lease, and thereafter you only need to worry about the paperwork the bank will provide to both parties to transfer the vehicle. In most cases the lease transfer process takes a few days to a a few weeks. Working with an expert for advice and counseling sure helps, which is why we recommend Swapalease.com because they will walk both parties through the lease transfer process.
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Founded in 2000, Monrovia, CA-based TakeMyPayments.com has been the internet’s leading marketplace for lease transfers, trades & assumptions and has routinely expanded its services to promote lease transfers. The Company’s mission is to provide consumers with lease transfer advice and information to accomplish the most lease transfers possible. As a result of TakeMyPayments’ vision and growth, they have expanded their web presence into Canada and are now providing lease transfer solutions to automotive consumers as well. |
TakeMyPayments.com has been the internet’s leading marketplace for lease transfers, trades & assumptions and has routinely expanded its services to promote lease transfers. The Company’s mission is to provide consumers with lease transfer advice and information to accomplish the most lease transfers possible.
As a result of TakeMyPayments’ vision and growth, they have expanded their web presence into Canada and are now providing lease transfer solutions to automotive consumers as well.
The basic lease transfer process is the same for all leasing companies. The individual wishing to assume the lease submits a credit application to the leasing company. The leasing company will make a decision on the credit worthiness of the applicant. If approved, lease transfer documents are prepared and signed by the original and assuming lessees. The transfer is complete when the signed documents are returned to the leasing company and processed. There are variations in the fees and details for each leasing company. The Swapalease service is on board to assist with these variations and details as you navigate through the transfer process.
The basic lease transfer process is the same for all leasing companies. The individual wishing to assume the lease submits a credit application to the leasing company. The leasing company will make a decision on the credit worthiness of the applicant. If approved, lease transfer documents are prepared and signed by the original and assuming lessees. The transfer is complete when the signed documents are returned to the leasing company and processed. There are variations in the fees and details for each leasing company. The Swap-a-Lease service is on board to assist with these variations and details as you navigate through the transfer process.
